OPEC President Purnomo Yusgiantoro has said that lower demand would push down oil prices in the second quarter of next year.
"What I do believe, in the second quarter of 2005, demand will start to drop. This will also impact on oil prices. To me, oil prices will start to drop sometime in the second quarter of 2005," said Purnomo during a Japan Energy Roundtable in Jakarta.
"The current (high) oil price is because of non-fundamental matters," he said.